Fortinet, Inc. $FTNT Position Raised by Waddell & Associates LLC

Waddell & Associates LLC grew its position in shares of Fortinet, Inc. (NASDAQ:FTNT) by 110.8% in the 4th quarter, HoldingsChannel.com reports. The fund owned 8,591 shares of the software maker’s stock after purchasing an additional 4,515 shares during the quarter. Waddell & Associates LLC’s holdings in Fortinet were worth $682,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of FTNT. Pinnacle Holdings LLC bought a new stake in Fortinet in the 3rd quarter valued at about $25,000. Ameriflex Group Inc. bought a new position in Fortinet in the 3rd quarter worth about $25,000. Wexford Capital LP bought a new position in Fortinet in the 3rd quarter worth about $25,000. Palisade Asset Management LLC acquired a new stake in shares of Fortinet in the third quarter valued at approximately $28,000. Finally, Elyxium Wealth LLC acquired a new stake in shares of Fortinet in the fourth quarter valued at approximately $27,000. Institutional investors own 83.71% of the company’s stock.

Fortinet Trading Down 1.1%

Shares of FTNT stock opened at $143.04 on Tuesday. The stock has a 50-day simple moving average of $104.83 and a 200 day simple moving average of $89.39. Fortinet, Inc. has a fifty-two week low of $70.12 and a fifty-two week high of $150.07. The stock has a market capitalization of $104.80 billion, a P/E ratio of 55.23, a P/E/G ratio of 3.96 and a beta of 1.11. The company has a quick ratio of 1.07, a current ratio of 1.15 and a debt-to-equity ratio of 0.50.

Fortinet (NASDAQ:FTNT) last issued its quarterly earnings results on Wednesday, May 6th. The software maker reported $0.82 EPS for the quarter, topping the consensus estimate of $0.62 by $0.20. Fortinet had a net margin of 27.49% and a return on equity of 160.08%. The firm had revenue of $1.85 billion for the quarter, compared to analysts’ expectations of $1.73 billion. During the same period in the previous year, the business earned $0.58 earnings per share. Fortinet’s revenue for the quarter was up 20.1% compared to the same quarter last year. Fortinet has set its Q2 2026 guidance at 0.720-0.760 EPS and its FY 2026 guidance at 3.100-3.160 EPS. On average, sell-side analysts expect that Fortinet, Inc. will post 2.78 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages recently issued reports on FTNT. Rosenblatt Securities increased their price objective on Fortinet from $105.00 to $125.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Scotiabank raised their target price on Fortinet from $85.00 to $110.00 and gave the company a “sector perform” rating in a research report on Thursday, May 7th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $100.00 price target on shares of Fortinet in a research report on Thursday, May 7th. Mizuho increased their price target on Fortinet from $70.00 to $86.00 and gave the stock an “underperform” rating in a research note on Thursday, May 7th. Finally, Piper Sandler raised their price target on Fortinet from $90.00 to $110.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, twenty-four have assigned a Hold rating and four have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $106.43.

Insider Transactions at Fortinet

In related news, COO John Whittle sold 146,015 shares of the firm’s stock in a transaction that occurred on Thursday, May 21st. The shares were sold at an average price of $128.41, for a total transaction of $18,749,786.15. Following the completion of the sale, the chief operating officer directly owned 94,724 shares in the company, valued at approximately $12,163,508.84. This trade represents a 60.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Michael Xie sold 3,907 shares of Fortinet stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $146.44, for a total transaction of $572,141.08. Following the completion of the transaction, the vice president owned 9,923,610 shares in the company, valued at approximately $1,453,213,448.40. This trade represents a 0.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 318,387 shares of company stock valued at $43,403,063 in the last quarter. Insiders own 17.60% of the company’s stock.

Fortinet Company Profile

Fortinet, Inc (NASDAQ: FTNT) is a multinational cybersecurity company that develops and delivers integrated security solutions for enterprise, service provider and government customers worldwide. Founded in 2000 and headquartered in Sunnyvale, California, the company was co‑founded by Ken Xie and Michael Xie. Ken Xie serves as chairman and chief executive officer, and the company operates through a global sales, channel and services organization to support customers across the Americas, EMEA and Asia‑Pacific.

Fortinet’s product portfolio centers on network security appliances and software, with its FortiGate next‑generation firewalls and the FortiOS operating system forming a core platform.